Retirement Systems of Alabama Sells 1,590 Shares of Lennar Co. (NYSE:LEN)

Retirement Systems of Alabama trimmed its position in Lennar Co. (NYSE:LEN) by 3.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 51,705 shares of the construction company’s stock after selling 1,590 shares during the period. Retirement Systems of Alabama’s holdings in Lennar were worth $7,051,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Armstrong Advisory Group Inc. increased its position in shares of Lennar by 69.4% during the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after buying an additional 75 shares during the period. Crews Bank & Trust purchased a new position in Lennar during the fourth quarter valued at approximately $25,000. Oakworth Capital Inc. purchased a new stake in Lennar in the 3rd quarter worth approximately $27,000. Wolff Wiese Magana LLC boosted its holdings in Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares during the period. Finally, GHP Investment Advisors Inc. purchased a new position in shares of Lennar during the 3rd quarter valued at $30,000. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of LEN stock opened at $121.95 on Monday. The stock has a market cap of $32.38 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 1.28 and a beta of 1.67. Lennar Co. has a 52-week low of $121.40 and a 52-week high of $193.80. The business has a 50-day simple moving average of $141.34 and a 200-day simple moving average of $164.69. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last released its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $10.06 billion. During the same period in the previous year, the firm posted $4.82 EPS. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. On average, equities analysts expect that Lennar Co. will post 12.52 EPS for the current year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $2.00 annualized dividend and a yield of 1.64%. Lennar’s dividend payout ratio is presently 13.95%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wolfe Research lowered shares of Lennar from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods cut their target price on shares of Lennar from $210.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Wedbush reaffirmed a “neutral” rating and set a $164.00 price target on shares of Lennar in a research note on Thursday, December 19th. Bank of America reduced their price objective on Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. cut their target price on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lennar has an average rating of “Hold” and a consensus target price of $167.19.

Lennar Company Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company’s homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.